The annual analysis published on the occasion of the Davos World Economic Forum highlights an uncertain economic landscape for 2024. While more than half of economists (56%) anticipate a weakening of growth, 43% are divided between the absence of changes and potential improvement. This uncertainty, according to experts, stems from headwinds such as persistently rigid financial conditions and geopolitical tensions.
Davos 2024: financial conditions and geographical perspectives
A significant majority (over 70%) foresees a loosening of financial conditions throughout the year, attributing this trend to the global decrease in inflation. However, focusing on different regions reveals a concerning picture for Europe, with 77% of economists predicting weak or very weak growth. While Asia maintains positive prospects, the outlook for the United States, the Middle East, and North Africa indicates moderate growth, while China remains shrouded in uncertainty, with 69% expecting moderate growth.
World Economic Forum Davos 2024: global challenges and global cooperation on the agenda
The Swiss town of Davos is preparing to host the 54th World Economic Forum, an assembly that will bring together over 60 world leaders and 2,800 prominent figures. The central theme, “Rebuilding Trust,” reflects the current climate of global insecurity and the need for innovative collaboration.
Emmanuel Macron, Pedro Sanchez, Ursula von der Leyen, Anthony Blinken, and António Guterres are among the notable participants. Børge Brende, President of the WEF, emphasizes the importance of long-term solutions through public-private collaboration.
“Rebuilding trust”: focus on conflicts and economic development
The main theme of over two hundred working sessions in Davos is “Rebuilding Trust,” a direct response to the strong global uncertainty. In an atmosphere of global conflicts, the need for collective action is more urgent than ever.
Ukrainian President Volodymyr Zelensky will address the issue of ongoing conflicts in Ukraine, while Isaac Herzog will discuss tensions in the Middle East. The 22-month-long war between Russia and Ukraine has caused economic instability and threats to global security, including the recent energy crisis in Europe.
Climate crisis, nature, and energy: collective solutions at WEF
The climate crisis will be at the center of discussions in Davos, with global leaders called upon to find collective long-term solutions. The First Movers Coalition, an integral part of the WEF’s agenda, brings together more than 95 members committed to decarbonizing high-emission sectors and adopting emerging climate technologies.
Jesper Brodin, CEO of Ingka Group (Ikea), highlights the shift in goals, moving from commitment to the need for concrete actions to address the climate crisis and promote sustainability.
With the World Economic Forum Davos 2024 as a platform for global dialogue, leaders commit to addressing challenges and rebuilding trust through collective actions and innovative solutions. Special attention is given to efforts to resolve global conflicts, mitigate the climate crisis, and promote sustainable development in a world that increasingly demands cooperation and mutual trust.